Talus Renewables, an U.S. supplier of green ammonia systems, has successfully raised $22 million (EUR 20.6 million) in a Series A funding round, a venture co-led by Material Impact and Temasek's Xora Innovation.
The funding initiative also witnessed the participation of Cavallo Ventures, the venture capital (VC) arm of Wilbur-Ellis, and Rice Investment Group, as disclosed in a recent press statement.
Talus Renewables has gained recognition for its pioneering work in developing the first commercially deployed modular green ammonia system. This innovative technology is designed to revolutionize various industries by reducing supply chain complexities, particularly in agriculture, mining, and industrial sectors. Additionally, it opens up opportunities for applications in maritime shipping, renewable energy storage, and power generation.
Commenting on this achievement, Phil Inagaki, Managing Director of Xora Innovation, expressed, “While most companies in the green ammonia space are still in the product development or project planning phase, Talus has already begun delivering systems to customers and is poised for rapid growth.”
Talus Renewables is now gearing up to deliver multiple units of its talusOne and talusTen systems to the U.S. and European markets, with the first talusOne unit already installed in the Kenya Highlands. This injection of capital is expected to further propel the company's mission to provide innovative and sustainable solutions for a range of industries.